Students Get Tax Break, But is it Enough?
Students Get Tax Break, But is it Enough?
There were three different options for educational tax breaks this year, and each student could choose one. I tested the system, and if I had paid ,000 in college costs during 2007, my highest potential tax credit would have been ,000. The problem is, most college students are paying far more than ,000 per year, and yet their tax break stays limited to about ,000.
When high school students apply for college financial aid, they usually receive a package heavy in loans and light in grants. For most of the 1990s, students signed for their loans without thinking twice about the interest rates they were agreeing to. But during the 1990s, when student loan agencies like Sallie Mae vastly grew in power, students learned the sour truth about paying back loans: Interest rates are killer. Loan companies encourage repayment methods that look good [...]
Source: admin